Mo. Rev. Stat. § 400.9-329
Priority of security interests in letter-of-credit right
Missouri · Revised Statutes of Missouri Chapter 400 — Uniform Commercial Code · Status: effective · Effective 2001-07-01
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- Citation
- Mo. Rev. Stat. § 400.9-329, Priority of security interests in letter-of-credit right, Missouri, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1815269
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Full text
The following rules govern priority among conflicting security interests in the same letter-of-credit right:
(1) A security interest held by a secured party having control of the letter-of-credit right under section 400.9-107 has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.
(2) Security interests perfected by control under section 400.9-314 rank according to priority in time of obtaining control.